Property prices up 12.7% in the year to March

Property prices up 12.7% in the year to March

Residential property prices at national level increased by 12.7% in the year to March, according to the latest report from the Central Statistics Office (CSO).

This compares with an increase of 12.5% in the year to February and an increase of 9.8% in the twelve months to March 2017.

In Dublin, residential property prices increased by 12.1% in the year to March. Dublin house prices increased 11.8%. Apartments in Dublin increased 13.9% in the same period. The highest house price growth was in Dublin City, at 14.2%. In contrast, the lowest growth was in South Dublin, where house prices increased 9.6%.

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 13.4% higher in the year to March. House prices in the Rest of Ireland increased 13.0% over the period. The West region showed the greatest price growth, with house prices increasing 18.0%. The Border region showed the least price growth, with house prices increasing 8.8%. Apartment prices in the Rest of Ireland increased 13.4% in the same period.

Overall, the national index is 21.6% lower than its highest level in 2007. Dublin residential property prices are 23.0% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 27.4% lower than their May 2007 peak.

From the trough in early 2013, prices nationally have increased by 75.0%. Dublin residential property prices have increased 90.8% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 67.1% higher than the trough, which was in May 2013.

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